Even though local Democrats like Mike Jacobs and Pat Verschoore crowed that their massive individual and corporate tax increase was “the right thing to do”, clearer heads are seeing this for what it is—a massive job killer.
In order mollify the business community, Quinn administration officials and lawmakers (probably not Jacobs or Verschoore) are holding a series of meetings with business leaders “to attempt to look at [the corporate tax rate system] and come up with comprehensive solutions.”
Naturally, the GOP is pushing for easing of the draconian anti-business pogrom against job creators, but just as naturally, Democrats like Sen. Toi Hutchinson are throwing cold water on any tax decrease proposal:
“Balance the need to fund our government to the level people expect, while we create a competitive tax code that attracts and retains business.”
Unfortunately for Democrats, these two things are mutually exclusive because the level of government people have come to expect has been so blown out of proportion by the political class, there isn’t enough money in the State O’ Illinois to meet those ever increasing expectations. This is something the business community uderstands which Democrats do not. How does Hutchinson think Illinois got in the financial hole it is in? It wasn’t too little taxation, it was too much spending. Taxpayers funded public pensions once, the politicians looted the funds to spend on other “expectations” and now we are forced to fund unions a second time. History has shown that if you give a Democrat a dollar, he will spend three.
What is needed is not to increase the tax burden on individuals and business—both are mobile and can leave for greener pastures; what is needed is for the Democrats to lower these “expectations” to more affordable levels. The era of Illinois giving everything to everybody for free is not sustainable and it is wrong for politicians to lie to the public by telling them is can be done by sticking it to businesses, millionaires and billionaires.